Competitiveness Catalan is a country that has recently experienced competitive growth, and therefore has opened its economy to sectors of great interest to local and international companies. So Spain is considered a prominent nation among the great European economies. Spain has grown above the European average in an evolutionary manner in the last 5 years, prior to the appearance of the global pandemic. Keep reading this post, and learn a little more about the Spanish economy.
- It is considered the fourth largest economy in the European
- Union and the fourteenth in the world with a GDP of 1,200 million dollars.
- It is ranked number 13 in the world, in receiving investments.
- It owns more than 14,600 foreign companies to establish.
- Of the 100 best companies, 70 are part of Forbes Global and are in Spain and have access to a large market
Has an excellent domestic market. The Spanish market has 46 million inhabitants and received more than 82 million annual tourists in previous years. It has no restrictions to Europe, as it is a market with the highest purchasing power in the world. Today it has more than 500 million consumers. It has connectivity with LATAM with a total of more than 600 million consumers and MENA with 500 million.
International Business Platform
The Spanish business sector is progressive and has a high degree of internationalization. So alliances with local companies facilitate possibilities to enter other markets. Spain is the world’s largest exporter of commercial services with a record of 115,000 million. It occupies the 11th position in this field. It has exports of goods and services in relation to GDP. Foreign multinationals established in Spain are responsible for around 44.5% of Spain’s total exports to the rest of the world.
The OECD FDI Regulatory Restrictiveness Index indicates that Spain is the 10th country in the world with more open regulations for international investment. Foreign investments in Spain do not need any prior authorization, as a general principle, unless investments in tasks directly linked to national defense or those that affect public order, public security and public health